The first 24/7 livestream from the inside of a Bitcoin Mining farm in beautiful Iceland.

Scroll down for more videos & enjoy!

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Weather in Iceland

Bitcoin what?

No Idea what Bitcoin Mining is? In short: Validating Bitcoin payments and providing safety to the decentralized digital currency network. Scroll down for the FAQ and get a more detailed explanation.

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Why a livestream?

As many people don’t know how a mining farm looks and operates, we wanted to give everybody a clear idea about it and provide livestreams of a mining farm from Genesis Mining. Coupled with new, ongoing promotional events, we hope to make this a nice entertainment channel.

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FAQ

What is Bitcoin Mining?

To understand what Bitcoin Mining is, you first have to understand the whole concept of Bitcoin. Everybody who owns or is trading with Bitcoin is a member of the Bitcoin network. One of the main reasons why Bitcoin is such a great invention is that it enables its network (more precisely its members) to transact with each other without needing a central authority (like a bank) to control them. But as there is no central authority, the network has to validate its transactions by itself. This goes automatically but it requires a lot of computing power. The so called miners are those members of the network, who provide their own computational power for this validation process. As a reward, the miners get all or some of those Bitcoins that are released into the Network each time a block is found which happens on average about every 10 minutes.

In the beginning, you could mine hundreds of Bitcoins just with your laptop. Now it has got much more difficult: the network is growing, and so are the number of miners. The result is a rising competition among miners for the newly released coins, and the appearance of increasingly specialized and fast computing machines, which you can also see on the live stream of the mining farm. They generate a lot of noise and heat, that is why it is really optimal to keep them secluded in Iceland, where electricity and cooling are both cheap.

Who are you guys?

We are Genesis Mining. One of the largest cloud mining providers in the Bitcoin mining industry with over 60,000 daily customers. We’ve been operating for nearly two years and are actively involved in the community.

Why are you doing this?

Bitcoin cloud mining has an issue: there are a lot of companies that are deceptive at best, scams at worst. They pretend to have mining facilities, often taking photos from other honest providers and claiming them as their own. After this happened to us, we asked, how can we prevent that from happening again? Streaming some of our mining farms live 24/7 on the internet was the answer.

Is this your only mining farm?

No, of course not! This is just one of the first farms that we have set up for live streaming . This one farm represents only a fraction of the farms we own, but in the upcoming months, we will try to scale out and add more and more live streams to our farms. The biggest ones are yet to come.

However since customer protection and security are high priority for us, we can only set up a livestream at locations that are not critical and tolerate this without disclosing sensitive information and disclosing critical intellectual property.

What is the total hashpower that can be seen here?

The total hashpower that can be seen on our live cameras is approximately 3000 TH/s of SHA-256.